The new building proposed for 1111 Light St. will improve nearly an acre of real estate in Federal Hill when it is completed in late 2011 and will offer many new business development opportunities to the neighborhood.
The design is close to completion and requires the demolition and reconstruction of current buildings because major defects were found in existing structures. A Traffic Impact Study has been completed showing that the project will create only a marginal impact on traffic in the area. Utility line relocation efforts (BGE, Verizon, and Comcast) will begin this month and will take a large number of existing overhead power lines and place them underground.
Replacing buildings at 1105-1117 Light St. and all of Weber St., the new structure will offer 6,000 square feet of retail space on Light Street and 22,000 square feet of office space on the second, third, and fourth floors. Retail space is already two-thirds leased. The rest of the new project will include 93 condominiums, a parking garage, an entertainment lounge with an indoor/outdoor fireplace, a gym, and a landscaped courtyard.
As all parts of the project come together – design, permits, and financing – construction should begin in the third quarter of 2010 and last approximately 12-15 months – with a goal of 13 months to completion.
Watch for marketing-related updates on the project’s web site http://www.1111lightstreet.com/, as well as a forthcoming construction update page that will be regularly maintained by the developer and the general contractor.